Wells Fargo & Company Forecasts Strong Price Appreciation for RTX (NYSE:RTX) Stock

RTX (NYSE:RTXGet Free Report) had its price target raised by research analysts at Wells Fargo & Company from $140.00 to $151.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 31.68% from the stock’s current price.

RTX has been the subject of several other research reports. Morgan Stanley boosted their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Citigroup boosted their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Barclays upped their target price on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. UBS Group lifted their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and increased their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.87.

Read Our Latest Stock Analysis on RTX

RTX Stock Down 0.1 %

Shares of RTX stock traded down $0.13 during midday trading on Wednesday, hitting $114.67. The company had a trading volume of 408,238 shares, compared to its average volume of 2,779,076. RTX has a 52-week low of $84.43 and a 52-week high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The stock has a market capitalization of $152.63 billion, a P/E ratio of 32.76, a P/E/G ratio of 2.08 and a beta of 0.81. The company has a 50 day moving average of $118.48 and a 200 day moving average of $116.72.

RTX (NYSE:RTXGet Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 EPS. On average, equities analysts predict that RTX will post 5.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RTX. Strathmore Capital Advisors Inc. bought a new stake in shares of RTX during the 4th quarter valued at $310,000. Spartan Planning & Wealth Management bought a new stake in RTX during the fourth quarter valued at about $224,000. Iowa State Bank raised its holdings in RTX by 0.3% during the fourth quarter. Iowa State Bank now owns 35,413 shares of the company’s stock valued at $4,098,000 after acquiring an additional 109 shares during the period. CWA Asset Management Group LLC boosted its stake in shares of RTX by 12.0% in the fourth quarter. CWA Asset Management Group LLC now owns 39,313 shares of the company’s stock worth $4,549,000 after acquiring an additional 4,198 shares during the period. Finally, First Citizens Financial Corp grew its position in shares of RTX by 4.9% during the fourth quarter. First Citizens Financial Corp now owns 3,777 shares of the company’s stock worth $437,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Company Profile

(Get Free Report)

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.

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